4 Myths about Pricing That Is Keeping You Stuck
What is the easiest way to quantify the value of your expertise or services? Pricing or the end result? I’m sure you’ve invested your time and cash into building your business, and now you’re well equipped with the right skills, strategies and knowledge to make other people’s lives better.
While that is absolutely impressive, there is one question left, “how can you make your life better by making other people’s lives better?” The answer seems to be pretty easy: Asking for the right cost for the value of your services. Surprisingly, too many life coaches, business owners and consultants are charging far below their actual worth. But why is that so?
There are several pricing myths that have been flying around for decades and making it hard for some experts to see the sky. The moment you make a mistake in pricing, you’re eating into your reputation or your profits. – Katharine Paine
Here are 4 pricing myths that are probably eating into your reputation or profits:
Myth 1- People will buy your services or products based on price
If you’re a vegetarian, would you buy a beef burger that is worth $10 for $3 just because of the price? My guess is as good as yours.The beef burger and the $3 would turn out to be a waste of money and food.
The price your clients are willing to pay for your expertiseis quantified by the value of your services or products. Imagine how much your clients will be happy to pay for a strategy or program that can help them achieve dreams, ambitions or goals that are priceless to them.
If you want to increase the cost of your services and make thousands of dollars easily – start by increasing the value of your products or services and watch the money pile up!
Myth 2 – The lower the cost, the more people will buy!
If the cost of your products or services is too good to be true, only very few people will buy. Many clients have realized that extremely low price is an indication of poor services, inexperience, or low quality.
High value coaching and consultancy services doesn’t come cheap. Too many clients are wary of coaches with cheap price tags dangling the costs of their services like a bait for low quality services. Want to increase your prices but worry that people won’t buy services? book your call with me today for your free strategy session HERE
Myth 3 – Price is an issue!
You probably thought price is the reason why clients are not buying your products or services. Price is never an issue for clients. Many clients have come to realize that there is a price to pay for everything, even to become successful.
And if your product is one of the ingredients in their success package, they’ll pay the price to get it.
Myth 4 – The higher the price, the less motivated clients are!
Nothing inspire clients better than a ROI. I’ve never seen a client who is not interested in making a huge return on the time and money they’ve invested in my program. If you think a high price will turn off your clients you’re underrating the value of your expertise.
A penny for your thought!
Feeling overwhelmed with selling?
If you’re determined to make a success as a life or business coach, you have to sell yourself and your business and charge your worth! This can seem really difficult to do at first. There are a few tips and tricks I can show you to help you get past this – what you need is to position your brand to sell to sell premium services and help your potential clients to say yes to themselves.”
Let me show you how – book your call with me today